I totally agree MS-WHITNEY! I use to be a shopper that shopped throughout the year and would spend around $300+ every visit. So no I wouldn't say you aren't smart for shopping whenever you wanted too and didn't wait to just shop during sales. Which is why I stopped shopping there because for the money people like you and I spend, we don't get rewarded for it. I get way better rewards accumulating points at
Nordstrom and Neimans and it started to not be an incentive for me to shop at Sephora anymore. Not to mention most of the things I buy for myself isn't sold there anyway.
I actually think Sephora was more upset at the money they lost giving 20% to all those orders last year. Although there were a lot of orders, it was at a discount and they loose profit when having to discount the higher priced items. They make 100% profit off the Sephora brand but only get a percentage off the other brands. So for them they could have lost money and feel not making the discount public is better for them in the long run.
I still think its crap and the way they handle things has been crap for a few years now which is why I gave them the boot. If I didn't spend much money I may feel differently but for those who spend money consistently its a waste.